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Making a Mutual Release Agreement
When things go south between you and a business partner, you can break ties and avoid going to court with a Mutual Release Agreement. After the document is signed by both parties, you can walk away from a contract without the fear of future legal repercussions.
Use the Mutual Release Agreement document if:
A Mutual Release Agreement is a straightforward document that allows you to settle disputes quickly and professionally. No matter what your dispute, a Mutual Release Agreement allows both parties to agree to drop all claims and get out of the contract. You can also agree to pay each other, or one party, for any damages. By signing this release, you should be aware that you are giving up the right to pursue any future claims against each other - even if you only find out about the problem after the fact. Still, that may be a small price to pay to avoid a potentially costly and lengthy lawsuit. Avoid a headache with a Mutual Release Agreement.
Other names for this document: Mutual Release and Termination Agreement, Mutual Release and Settlement Agreement, Partnership Release Agreement